No deadline set for Coyotes new franchise

[dash]

New proposal gives city option to purchase Coyotes - Glendalestar.com: News

Let me see, this is the same city that was laying off police and firefighters in order to find enough money to keep the Coyotes in Glendale for the past few years. Hey, maybe the Coyotes should work as police and firefighters during the off-season?

/Officer Doan, where are you?

 

[jstewismybastardson]

Doan could assist in training police officers on tracking escaped convicts

 

[OregonDucks]

moving to Seattle seems odd. Considering Vancouver market is already there. Portland seems the better option. You get the entire Portland area, and all the way up North into majority of Washington.

 

[DaBoltsNIsles]

New proposal gives city option to purchase Coyotes - Glendalestar.com: News

Let me see, this is the same city that was laying off police and firefighters in order to find enough money to keep the Coyotes in Glendale for the past few years. Hey, maybe the Coyotes should work as police and firefighters during the off-season?

/Officer Doan, where are you?

Politicians running a hockey team. That might actually be fun to watch. They're really good at destroying their local economy. Imagine what they might do to a NHL Franchise.:

 

[sabresfaninthesouth]

The Glendale Coyotes?

Imagine if the city purchased the team under this proposal and didn't rename them. I'd be mighty pissed if I was a tax payer in that city.

 

[pixburgher66]

What a freaking mess...cut your losses and move on. I understand that there were no interested buyers in ATL, but you can't tell me they actually considered every single possible option like they are in PHX.

 

[sabresfaninthesouth]

What a freaking mess...cut your losses and move on. I understand that there were no interested buyers in ATL, but you can't tell me they actually considered every single possible option like they are in PHX.

That's the thing that confused me so much. Why try so hard with the Coyotes when you let the Thrashers move so fast?

Only thing I can think of is because one was an expansion but the other is a relocation, so maybe they're holding the relocation to a higher level of scrutiny?

 

[pixburgher66]

That's the thing that confused me so much. Why try so hard with the Coyotes when you let the Thrashers move so fast?

Only thing I can think of is because one was an expansion but the other is a relocation, so maybe they're holding the relocation to a higher level of scrutiny?

I tend to think it's a bit of pride with Gary. PHX has had more success too. They do actually have a fanbase, much more than the Thrashers ever did. They SAY it happened because there was literally no owner who stepped up to keep them there. There have been owners who have stepped up to keep them in PHX, but when you've been turned down at basically every turn, you'd think they'd move on. The CITY is the group that seemingly is blocking this. In most other situations in which a team was on the verge of moving, the city played a big role in keeping a team in place. Obviously there are people in Glendale who want them around, but far too many don't.

 

[sabresfaninthesouth]

I tend to think it's a bit of pride with Gary. PHX has had more success too. They do actually have a fanbase, much more than the Thrashers ever did. They SAY it happened because there was literally no owner who stepped up to keep them there. There have been owners who have stepped up to keep them in PHX, but when you've been turned down at basically every turn, you'd think they'd move on. The CITY is the group that seemingly is blocking this. In most other situations in which a team was on the verge of moving, the city played a big role in keeping a team in place. Obviously there are people in Glendale who want them around, but far too many don't.

I just don't buy that they even really tried in Atlanta.

 

[pixburgher66]

I just don't buy that they even really tried in Atlanta.

I agree. It happened overnight essentially.

 

[dash]

As currently constructed, RSE seems like a group of investors, to say it nicely, or carpet-baggers, to say it with attitude. Putting so little money into this up front while accepting a loan at a high interest rate makes the plan obvious. Buy the team and lose a little bit of money at first, and then make a lot of money selling the team to another ownership group. If RSE can't put up more of its own money, where are they going to find the money to put into the team? If they skimp on the team, fans won't show up. If there's no fans, the owners can then claim they tried to make the Valley hockey country, but it was all of us that failed.

All of this goes away if Bettman lowers the price. There are local, hockey-loving people in this Valley who will buy the team for $140 million and ensure stability for years to come. Bettman isn't interested in years to come. Glendale must stand its ground. Just because Bettman wants his money doesn't mean Glendale should pay off the new ownership group. Bettman can have his sale price for a long-term lease or he should allow a different ownership group to buy it cheaper on a short-term lease.

As this situation is currently constructed, I predict the Coyotes/NHL/RSE come to an agreement in the next two weeks. There will be loud celebration. Then, little will be done to improve the team. Don't blame GM Don Maloney. As the losses mount and the fan support dwindles, RSE will claim massive losses. They will act like millionaire victims. The Coyotes will be sold and moved.

If nothing changes, we will have hockey next year. In 2018, however, some city in the US or Canada will have a contest to name their new team. It appears Glendale is choosing a slow death.

Breaking down the Phoenix Coyotes ownership situation ArizonaSports.com

 

[pixburgher66]

What is the asking price?

 

[dash]

What is the asking price?

$170 million

 

[jstewismybastardson]

I just don't buy that they even really tried in Atlanta.

That franchise was a victim of timing ... how long was the lawsuit between the 2 former owners of the team going on for when the league was informed both were gonna end up walking away?

the league had no appetite to own and operate 2 franchises (already funding coyotes and depends on who you ask ... making Dallas Stars payroll too) at that time

 

[pixburgher66]

$170 million

Isn't that relatively cheap in comparison to a lot of other franchises? I dunno, I get where that article was going, but this is the LEAGUE selling the team. Cutting out $30M in the cost essentially hurts the rest of the NHL. Then again, if he's predicting the truth...then it'll certainly hurt the league.

 

[dash]

Isn't that relatively cheap in comparison to a lot of other franchises? I dunno, I get where that article was going, but this is the LEAGUE selling the team. Cutting out $30M in the cost essentially hurts the rest of the NHL. Then again, if he's predicting the truth...then it'll certainly hurt the league.

It's not that cheap when Forbes estimates the value of the franchise at $134 million (and that's not a recent number, it's likely gone down in value).

 

[sabresfaninthesouth]

Isn't that relatively cheap in comparison to a lot of other franchises? I dunno, I get where that article was going, but this is the LEAGUE selling the team. Cutting out $30M in the cost essentially hurts the rest of the NHL. Then again, if he's predicting the truth...then it'll certainly hurt the league.

It's not that cheap when Forbes estimates the value of the franchise at $134 million (and that's not a recent number, it's likely gone down in value).

And when the Sabres sold a few years ago Forbes put the value at about $170M. The sale was $189M ($175M cash plus $14M in assumed debt) and included the Buffalo Bandits lacrosse team. Not sure how much value can be attributed to the lacrosse team, but it was at most a $19M (11%) premium, where they're asking for $36M (27%) premium on the Coyotes.

 

[puckhead]

.

All of this goes away if Bettman lowers the price. There are local, hockey-loving people in this Valley who will buy the team for $140 million and ensure stability for years to come.

Uuuh, wut? Bit of a big factor to throw in as a given.
And how will a new owner ensure stability? Other than by moving the franchise, of course

 

[dash]

Bettman is playing hardball...

If the RSE deal fails and the Coyotes relocate, the NHL would require Glendale to repay the entire $25 million immediately.

City Hall, escrow account come into play in Coyotes saga

Edit: Now it looks like he's softened his stance (lol)

NHL willing to give Glendale 5 years to pay off $25M owed for Coyotes arena deal

http://www.bizjournals.com/phoenix/news/2013/06/25/nhl-willing-to-give-glendale-5-years.html

 

[Vadered]

No deadline part is pretty obvious, considering this thread was started fifteen months ago. This is dragging on and on and on....